Seperation/Mortgage Problem

lucyliu99

Can anyone give me some advice please. Me and my husband have seperated I'm still in the house with my daughter, we have £37K left to pay on a £100K house, mortgage is in joint names.

I want to pay him out (£30k) thus getting a mortgage for £67K on my own. So far I can't find any lender that will help.

I am currently on long term sick (incapacity) and also get other benefits.

Has anyone got any ideas because I dont want to sell my home.

Also does anyone know how much maintenance he should pay, I have looked on the Child Support web site and it says £33 which I think should be more.

Any help would be muchly appreciated, ill buy ya a pint, lol, actually no better watch the pennies, will half do, lol.

Cheers
Linda

brannyrhino_2

lucyliu99 wrote:

Can anyone give me some advice please. Me and my husband have seperated I'm still in the house with my daughter, we have £37K left to pay on a £100K house, mortgage is in joint names.

I want to pay him out (£30k) thus getting a mortgage for £67K on my own. So far I can't find any lender that will help.

I am currently on long term sick (incapacity) and also get other benefits.

Has anyone got any ideas because I dont want to sell my home.

Also does anyone know how much maintenance he should pay, I have looked on the Child Support web site and it says £33 which I think should be more.

Any help would be muchly appreciated, ill buy ya a pint, lol, actually no better watch the pennies, will half do, lol.

Cheers
Linda

I would say you can't afford £67000 on benefits unless they amount to £20k per year as the payment s are likely to cripple you.

£67000 on C&I is £441.00 at 5.00% over 20 years
£67000 on C&I is £478.00 at 6.00% over 20 years

Can you put £478.00 away each month for the next six months. If you can't you can't afford the mortgage.

johannamse

Hey Linda,

You'd be better posting on the benfits board about the child maintenance, there are some excellent people who can point you in the right direction. Good Luck.

lucyliu99

Ive been on alliance and leicester website and 30 years for £67k would only be £316. Which I could afford to pay, as I supplement my income with ebay.

The problem i have is finding a lender, any ideas?

My Mum is quite well off and owns her own home, could she be a guarantor or simalar.

Also if i come off the incapacity and go work part time but still bring in the same money will I get a mortgage.

PLEASE HELP
Cheers
Linda

brannyrhino_2

lucyliu99 wrote:

Ive been on alliance and leicester website and 30 years for £67k would only be £316. Which I could afford to pay, as I supplement my income with ebay.

The problem i have is finding a lender, any ideas?

My Mum is quite well off and owns her own home, could she be a guarantor or simalar.

Also if i come off the incapacity and go work part time but still bring in the same money will I get a mortgage.

PLEASE HELP
Cheers
Linda

30 years is a long time!
Is the £316.00 capital and interest or interest only?
How long does it stay on that rate?
Could you afford it if Interest rates went up say 1% or 2% or even 5%. It is possible especially if we get a Tory Govn He He!.

You are unlikely to find a lender that will lend you £67k whilst on benefits but you will find loads of lenders who will lend with a suitable Guarantor in place.

Most lenders will lend you three/four times what your earning some would go higher but the lower your income the more difficult it will be for you to manage if you go four times or above.